43007068 2025-01-01 2025-12-31 43007068 2025-01-01 2025-12-31 2 43007068 2025-01-01 2025-12-31 1 43007068 2025-01-01 2025-12-31 1 43007068 2025-01-01 2025-12-31 2 43007068 2025-01-01 2025-12-31 3 43007068 2025-01-01 2025-12-31 1 43007068 2024-01-01 2024-12-31 43007068 2025-12-31 43007068 2024-12-31 43007068 2025-01-01 d:ContributedCapitalMember 43007068 2025-01-01 d:RetainedEarningsMember 43007068 2025-01-01 2025-12-31 d:RetainedEarningsMember 43007068 2025-12-31 d:ContributedCapitalMember 43007068 2025-12-31 d:RetainedEarningsMember 43007068 2025-01-01 d:ConvertibleProfitYieldingOrDividendYieldingLongtermDebtInstrumentsMember 43007068 2025-12-31 d:ConvertibleProfitYieldingOrDividendYieldingLongtermDebtInstrumentsMember iso4217:DKK xbrli:pure false LPOG ApS 33167288 Regnskabsklasse B Revisionspåtegning LPOG ApS 33167288 Kilde Alle 22, 3. sal 2025-12-31 3600 Frederikssund 2025-01-01 2024-01-01 2024-12-31 Henrik Laursen true 2026-06-23 CaseWare-FSR false false false false Annual report The Board of directors and executive board have today discussed and approved the annual report of Solid Therapeutics ApS for the financial year 1 January - 31 December 2025. The annual report is prepared in accordance with the Danish Financial Statements Act. In our opinion, the financial statements give a true and fair view of the company's financial position at 31 December 2025 and of the results of the company's operations for the financial year 1 January - 31 December 2025. In our opinion, management's review includes a fair review of the matters dealt with in the management's review. Management recommends that the annual report should be approved by the company in general meeting. John Sørensen Haurum John Sørensen Haurum chairman Thue Walter Schwartz Claus Haase To the shareholders of Solid Therapeutics ApS Opinion We have audited the financial statements of Solid Therapeutics ApS for the financial year 1 January - 31 December 2025, which comprise a summary of significant accounting policies, income statement, balance sheet, statement of changes in equi­ty and notes. The financial statements are prepared under the Danish Financial Statements Act.In our opinion, the financial statements give a true and fair view of the com­pany's financial position at 31 December 2025 and of the results of the company's operations for the financial year 1 January - 31 December 2025 in accordance with the Danish Financial Statements Act. Basis for Opinion We conducted our audit in accordance with International Standards on Auditing (ISAs) and the additional requirements applicable in Denmark. Our responsibilities under those standards and requirements are further described in the “Auditor's responsibilities for the audit of the financial statements” section of our report. We are independent of the company in accordance with the International Ethics Standards Board for Accountants' Code of Ethics for Professional Accountants (IESBA Code) and the additional requirements applicable in Denmark, and we have fulfilled our other ethical responsibilities in accordance with these requirements and IESBA Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Management is responsible for the preparation of financial statements, that give a true and fair view in accordance with the Danish Financial Statements Act and for such internal control as management determines is necessary to enable the preparation of the financial statements that are free from material misstatement, whether due to fraud or error.In preparing the financial statements, management is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting in preparing the financial statements unless management either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs and the additional requirements applicable in Denmark will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.As part of an audit conducted in accordance with ISAs and the additional requirements applicable in Denmark, we exercise professional judgement and maintain professional scepticism throughout the audit. We also:Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company's internal control.Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.Conclude on the appropriateness of management's use of the going concern basis of accounting in preparing the financial statements and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the company to cease to continue as a going concern.Evaluate the overall presentation, structure and contents of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that gives a true and fair view.We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. Statement on management's reviewManagement is responsible for management's review.Our opinion on the financial statements does not cover management's review, and we do not express any form of assurance conclusion thereon.In connection with our audit of the financial statements, our responsibility is to read management's review and, in doing so, consider whether management's review is materially inconsistent with the financial statements or our knowledge obtained during the audit, or otherwise appears to be materially misstated.Moreover, it is our responsibility to consider whether management's review provides the information required under the Danish Financial Statements Act.Based on the work we have performed, we conclude that management's review is in accordance with the financial statements and has been prepared in accordance with the requirements of the Danish Financial Statements Act. We did not identify any material misstatement of management's review. Frederikssund 2026-06-23 LPOG ApS Anders Pedersen State Authorised Public Accountant mne34550 Solid Therapeutics ApS Ole Maaløes Vej  3 2200  København N 43007068 Copenhagen 33167288 Kilde Alle 22, 3. sal 3600 Frederikssund Business reviewThe company's object is to engage in activities within pharmaceutical drug discovery and development. Financial review The company's income statement for the year ended 31 December 2025 shows a loss of DKK 4.355.625, and the balance sheet at 31 December 2025 shows negative equity of DKK 15.353.766. Significant events occurring after the end of the financial yearNo events have occurred after the balance sheet date which could significantly affect the company's financial position. Expected development of the company, including specific prerequisites and uncertaintiesThe Company has lost its entire share capital. Despite this capital loss, Management assesses that the Company continues to have a sufficient capital base and liquidity to support ongoing operations. Management continuously monitors the capital structure and the potential need to re-establish equity. Together with the Board of Directors, Management is actively working to secure additional funding during the financial year 2026. Furthermore, Management assesses that the Company will obtain the necessary funding to continue its planned operations.   With the grants and loans already secured during 2025, the Company has the financial resources and liquidity to carry out its planned activities for the next 12 months. The annual report of Solid Therapeutics ApS for 2025 has been prepared in accordance with the provisions of the Danish Financial Statements Act ap­plying to en­ter­pri­ses of re­por­ting class B, as well as provisions applying to reporting class C entities.The accounting policies applied are consistent with those of last year. Income is recognised in the income statement as earned, including value adjustments of financial assets and liabilities. All expenses, including amortisation, depreciation and impairment losses, are also recognised in the income statement.Assets are recognised in the balance sheet when it is probable that future economic benefits will flow to the company and the value of the asset can be measured reliably.Liabilities are recognised in the balance sheet when it is probable that future economic benefits will flow from the company and the value of the liability can be measured reliably.On initial recognition, assets and liabilities are measured at cost. On subsequent recognition, assets and liabilities are measured as described below for each individual accounting item.On recognition and measurement, allowance is made for predictable losses and risks which occur before the annual report is presented and which confirm or invalidate matters existing at the balance sheet date. In pursuance of section 32 of the Danish Financial Statements Act, the company does not disclose its revenue. Gross profit reflects an aggregation of other operating income, research and developmen costs and other external expenses. The company expenses are all research costs. In line with industry practice, internal and subcontracted development costs are also expensed as they are incurred, due to significant regulatory uncertainties and other uncertainties inherent in the development of new products. This means that the costs do not qualify for capitalisation as intangible assets until marketing approval by a regulatory authority is obtained or considered highly probable. Other operating income and other operating expenses comprise items of a secondary nature to the main activities of the Company. Other external costs include expenses related to sale, advertising, administration, premises etc. Staff costs include wages and salaries, including compensated absence and pensions, as well as other social security contributions, etc. made to the entity's employees. Financial income and expenses are recognised in the income statement at the amounts relating to the financial year. Tax for the year, which comprises the current tax charge for the year and changes in the deferred tax charge, is recognised in the income statement as regards the portion that relates to the profit/loss for the year and directly in equity as regards the portion that relates to entries directly in equity. Receivables are measured at amortised cost.An impairment loss is recognised if there is objective evidence that a receivable or a group of receivables is impaired. If there is objective evidence that an individual receivable is impaired, an impairment loss for that individual asset is recognised. Cash and cash equivalents comprise deposits at banks. Current tax liabilities and current tax receivables are recognised in the balance sheet as the estimated tax on the taxable income for the year, adjusted for tax on the taxable income for previous years and tax paid on account.Deferred tax is measured according to the liability method in respect of temporary differences between the carrying amount of assets and liabilities and their tax base, calculated on the basis of the planned use of the asset and settlement of the liability, respectively. Deferred tax is measured at net realisable value. Loans are recognised initially at the proceeds received net of transaction expenses incurred. Subsequently, the loans are measured at amortised cost; the difference between the proceeds and the nominal value is recognised as an interest expense in the income statement over the loan period.   Other debts are measured at amortised cost, substantially corresponding to nominal value. Deferred income recognised under 'Current liabilities' comprises payments received concerning income in subsequent financial years. -1687751 -4214000 2363911 3034000 -4051662 -7248000 31079 1000 1314782 1065000 -5335365 -8312000 -979740 -1554000 -4355625 -6758000 -4355625 -6758000 45111 538000 979740 1554000 1024851 2092000 5817513 8912000 6842364 11004000 6842364 11004000 40000 40000 -15393766 -11038000 -15353766 -10998000 21607489 20308000 21607489 20308000 314917 883000 38368 228000 235356 583000 588641 1694000 22196130 22002000 6842364 11004000 40000 -11038141 -4355625 40000 -15393766 The Company has lost its entire share capital. Despite this capital loss, Management assesses that the Company continues to have a sufficient capital base and liquidity to support ongoing operations. Management continuously monitors the capital structure and the potential need to re-establish equity. Together with the Board of Directors, Management is actively working to secure additional funding during the financial year 2026. Furthermore, Management assesses that the Company will obtain the necessary funding to continue its planned operations.   With the grants and loans already secured during 2025, the Company has the financial resources and liquidity to carry out its planned activities for the next 12 months. 2337906 3009000 26005 25000 2363911 3034000 3 4 22122 0 8957 1000 31079 1000 1302420 1052000 12362 13000 1314782 1065000 -979740 -1554000 20307873 21607489 0 0 The company has no contingent liabilities. The company has not provided any security or other collateral at 31 December 2025.